Shops may
be on residential
streets,
or in shopping
streets
with little
or no houses,
or in a
shopping
center
or
shopping
mall.
Shopping
streets
may or may
not be for
pedestrians
only. Sometimes
a shopping
street has
a partial
or full
roof to
protect
customers
from precipitation.

Shopping
is
buying
things,
sometimes
as a recreational
activity.
A cheap
version
of the latter
is window
shopping
(just looking,
not buying).

Kinds
of retailers

A large
shop is
called a
superstore
or megastore.
A shop with
many different
kinds of
articles
is called
a
department
store.

Many
shops are
part of
a chain:
a number
of similar
shops with
the same
name selling
the same
products
in different
locations.
The shops
may be owned
by one company,
or there
may be a
franchising
company
that has
franchising
agreements
with the
shop owners
(see also
restaurant
chain).

Some
shops sell
second-hand
goods. Often
the public
can also
sell goods
to such
shops. In
other cases,
especially
in the caseof
a nonprofit
shop, the
public donates
goods to
the shop
to be sold
(see also
thrift store).
In give-away
shops goods
can be taken
for free.

The term
retailer
is also
applied
where a
service
provider
services
the needs
of a large
number of
individuals,
such as
withtelephone
or electric
power.

Online shops have both advantages and disadvantages over traditional off-line retaiers. One of the advantages is the vast collection of goods that can be sold at the site. In the case of selling goods like books and wine bottles, this is the significant advantage.

Retail
pricing

The pricing
technique
used by
most retailers
is cost-plus
pricing.
This involves
adding a
markup amount
(or percentage)
to the retailers
cost. Another
common technique
is manufacturers
suggested
list pricing.
This simply
involves
charging
the amount
suggested
by the manufacturer
and usually
printed
on the product
by the
manufacturer.

In Western
countries,
retail prices
are often
so-called
psychological
prices or
odd prices:
a little
less than
a round
number,
e.g. $ 6.95.
In Chinese
societies,
prices are
generally
either a
round number
or sometimes
some lucky
number.
This creates
price points.

Often
prices are
fixed and
displayed
on signs
or labels.
Alternatively,
there can
be price
discrimination
for a variety
of reasons.
The retailer
charges
higher prices
to some
customers
and lower
prices to
others.
For example,
a customer
may have
to pay more
if the seller
determines
that he
or she is
willing
to. The
retailer
may conclude
this due
to the customer's
wealth,
carelessness,
lack of
knowledge,
or eagerness
to buy.
Price discrimination
can lead
to a bargaining
situation
often called
haggling
an argument
about the
price. Economists
see this
as determining
how the
transaction's
total surplus
will be
divided
into consumer
and producer
surplus.
Neither
party has
a clear
advantage,
because
the threat
of no sale
exists,
whence the
surplus
vanishes
for both.